Tag Archives: Mortgage Bankers Association (MBA)

New role of VP of Marketplace Diversity Strategy was established to foster Guild’s goal to increase homeownership among minorities and underserved markets.

After weeks of hovering just above the 3% mark, mortgage rates changed course for the second straight week, reaching highs last seen prior to the pandemic.

A rise in rates over the last week did not stop the charge of conventional purchase applications, as prospective buyers locked in rate before even more drastic increases.

Nationally, mortgage credit availability was on the rise to close out 2021, hitting levels last seen in May 2021, yet 30% below pre-pandemic levels.

Inflationary concerns, spurred by continued labor and supply chain issues, forced mortgage rates to jump by 0.23% this week, as rates rose across all mortgage loan types.

Despite overall mortgage app volume on the upswing to begin 2022, the rise in rates has dropped conventional refis to their lowest levels since January 2020.

Continued supply concerns have forced more to reconsider their home purchases, as the year closed out with a decline in overall purchase apps.

In the new year, lenders must decide whether to maintain old business practices or to embrace change.

After a few weeks of increases, mortgage rates took a slight dive this week, falling to 3.05% as refis again picked up despite a downtick in overall mortgage app volume.

A 3% decline in purchase applications was offset by a 2% rise in refi activity as overall mortgage application volume slid for the second consecutive week.